Turns out the last play was actually strength! Sideways action has finally led to a nice breakout. With alt coins popping off left and right, and a clean setup off support here, I think we have a pretty easy RR trade.
This is one of the most simple and classic crypto trades. Breakout longs. And now we are at an even mo betta technical level, the retest of that breakout. Prior highs currently acting as support.
If this continues, You can work with a very tight risk while targeting 3x or more whatever you are risking. Stops below the breakout level, giving enough room for some liquidity sweeps in case we get one or more of those gnarly wicks on the move up up and away from this BnB level
This is one of the most simple and classic crypto trades. Breakout longs. And now we are at an even mo betta technical level, the retest of that breakout. Prior highs currently acting as support.
If this continues, You can work with a very tight risk while targeting 3x or more whatever you are risking. Stops below the breakout level, giving enough room for some liquidity sweeps in case we get one or more of those gnarly wicks on the move up up and away from this BnB level
ノート
We pulled back deeper than prior highs but held the 20 dma perfectly. 20dma trends can carry on for months. Could be a slow grind higher, but with that slow grind, allows for some great scalp trading on pullbacks. Let's so how the week is handled post all this weekend Iran news.
ノート
Also note how the......69 level held on the 15m chart, eventually acting as the breakout point post a reclaim. Prior to this, the rejections from this level never had any follow through. Beautiful example of a big set of orders there. Bookmap or another heatmap software may have shown a huge order(s) sitting on the book there for 3 days.
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